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fraud
(redirected from False accounting)

   Also found in: Medical, Legal, Encyclopedia, Wikipedia, Hutchinson 0.06 sec.
fraud
Deception carried out for the purpose of achieving personal gain while causing injury to another party. For example, selling a new security issue while intentionally concealing important facts related to the issue is fraud.


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This negative perception is most likely due to the fact that scandals of extortion, false accounting, and coverup are quite newsworthy, but the CEO who diligently follows the rules never makes primetime news.
So now there is the case of Betty Vinson, a quite-anonymous accountant making 80 grand a year at a big telecom company who suddenly found herself in a bad place: being asked by her boss to make false accounting entries.
The false accounting resulted in the huge loss to investors, and a $1 million-plus loss by a finance company, U.
 
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